Chesley Taft & Associates LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 9, 2025), Chesley Taft & Associates LLC reported 334 stock positions worth $2.2 billion. Its top holding was Microsoft (MSFT) at 5.1% of the portfolio, followed by Alphabet Class C (GOOG, 3.5%) and Broadcom (AVGO, 3.3%). Compared with Q1 2025, it opened 15 new positions, sold out of 12, added to 123 and reduced 135. The biggest buy was Amazon.com (AMZN, shares +21%) and the biggest sale Apple (AAPL, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001164632
- Portfolio Value
- $2.2B (Q2 2025)
- SEC Filing
- 0001085146-25-003693 ↗ filed Jul 9, 2025
Holdings Value
Holdings 334 stocks · $2.2B
| MSFT Microsoft Corp. | 5.14% | 231,664 | $115.2M | Reduce -1.4% |
| GOOG Alphabet Inc. Class C | 3.51% | 443,132 | $78.6M | Reduce -5.3% |
| AVGO Broadcom Inc. | 3.33% | 270,274 | $74.5M | Reduce -2.4% |
| NVDA Nvidia Corp. | 3.30% | 468,094 | $74.0M | Reduce -1.1% |
| AMZN Amazon.com Inc. | 3.01% | 307,645 | $67.5M | Add +20.6% |
| COST Costco Wholesale Corp. | 3.00% | 67,863 | $67.2M | Reduce -0.9% |
| AAPL Apple Inc. | 2.59% | 282,298 | $57.9M | Reduce -5.8% |
| SYK Stryker Corp. | 2.53% | 143,320 | $56.7M | Reduce -1.0% |
| JPM JPMorgan Chase & Co. | 2.20% | 170,147 | $49.3M | Reduce -0.7% |
| V Visa Inc. Class A | 2.01% | 126,923 | $45.1M | Reduce -1.3% |
| IJR iShares Core S&P Small-Cap E | 1.74% | 356,816 | $39.0M | Reduce -3.9% |
| IJH iShares Core S&P Midcap ETF | 1.72% | 620,416 | $38.5M | Reduce -9.8% |
| PANW Palo Alto Networks Inc. | 1.66% | 182,164 | $37.3M | Reduce -1.1% |
| ORCL Oracle Corp. | 1.66% | 170,057 | $37.2M | Reduce -0.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.55% | 56,323 | $34.8M | Reduce -1.0% |
| AXP American Express Co. | 1.50% | 105,437 | $33.6M | Add +0.1% |
| GLD SPDR Gold Shares | 1.48% | 108,385 | $33.0M | Add +0.6% |
| IXUS iShares Core Intl Stock ETF | 1.47% | 427,103 | $33.0M | Reduce -2.1% |
| ABT Abbott Laboratories | 1.41% | 232,664 | $31.6M | Reduce -0.6% |
| JNJ Johnson & Johnson | 1.39% | 203,371 | $31.1M | Reduce -0.6% |
| MA Mastercard Inc. Class A | 1.29% | 51,616 | $29.0M | Reduce -1.9% |
| CB Chubb Ltd. | 1.28% | 99,195 | $28.7M | Add +0.5% |
| ACN Accenture PLC Class A | 1.23% | 92,066 | $27.5M | Reduce -0.5% |
| META Meta Platforms Inc. Class A | 1.23% | 37,250 | $27.5M | Reduce -0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.04% | 187,778 | $23.3M | Add +1.4% |
| HON Honeywell International Inc. | 1.04% | 99,697 | $23.2M | Reduce -1.9% |
| HD Home Depot Inc. | 1.02% | 62,513 | $22.9M | Reduce -0.6% |
| AZO AutoZone Inc. | 0.99% | 5,959 | $22.1M | Reduce -0.2% |
| PEP Pepsico Inc. | 0.97% | 164,012 | $21.7M | Reduce -6.3% |
| ITW Illinois Tool Works | 0.93% | 83,909 | $20.7M | Reduce -1.5% |
| KO The Coca-Cola Co. | 0.89% | 280,305 | $19.8M | Add +4.6% |
| WM Waste Management Inc. | 0.87% | 85,381 | $19.5M | Reduce -0.5% |
| APH Amphenol Corp. Class A | 0.87% | 197,468 | $19.5M | Reduce -2.0% |
| GOOGL Alphabet Inc. Class A | 0.80% | 101,625 | $17.9M | Reduce -12.0% |
| LLY Eli Lilly & Co. | 0.79% | 22,802 | $17.8M | Reduce -1.0% |
| WFC Wells Fargo & Co. | 0.79% | 221,072 | $17.7M | Add +5.8% |
| IVV iShares Core S&P 500 ETF | 0.76% | 27,339 | $17.0M | Add +1.3% |
| TMO Thermo Fisher Scientific Inc. | 0.75% | 41,467 | $16.8M | Reduce -0.7% |
| VEU Vanguard Ftse All-World Ex-U | 0.73% | 243,654 | $16.4M | Add +2.9% |
| ZTS Zoetis Inc. | 0.72% | 103,220 | $16.1M | Reduce -3.1% |
| RTX RTX Corp. | 0.71% | 109,293 | $16.0M | Add +24.8% |
| MUB iShares National Muni Bond E | 0.68% | 145,181 | $15.2M | Reduce -18.0% |
| VEA Vanguard Ftse Developed ETF | 0.67% | 261,673 | $14.9M | Add +5.0% |
| ICE Intercontinental Exchange Inc. | 0.62% | 75,945 | $13.9M | Reduce -2.8% |
| NFLX Netflix Inc. | 0.61% | 10,228 | $13.7M | Add +0.9% |
| XLF SS Financial Select Sector | 0.60% | 258,112 | $13.5M | Reduce -5.9% |
| XOM Exxon Mobil Corp. | 0.59% | 123,565 | $13.3M | Add +0.0% |
| CRM Salesforce Inc. | 0.59% | 48,178 | $13.1M | Reduce -1.5% |
| UBER Uber Technologies Inc. | 0.57% | 136,790 | $12.8M | Add +4529.1% |
| BX Blackstone Inc. | 0.57% | 84,832 | $12.7M | Reduce -0.6% |
| UNP Union Pacific Corp. | 0.52% | 50,264 | $11.6M | Add +0.8% |
| C Citigroup Inc. | 0.48% | 126,610 | $10.8M | Add +10.3% |
| EFA iShares MSCI Eafe ETF | 0.48% | 119,766 | $10.7M | Reduce -5.2% |
| ADBE Adobe Inc. | 0.48% | 27,672 | $10.7M | Reduce -2.2% |
| ECL Ecolab Inc. | 0.47% | 38,741 | $10.4M | Reduce -1.8% |
| WTW Willis Towers Watson PLC | 0.46% | 33,444 | $10.3M | Reduce -0.4% |
| UNH Unitedhealth Group Inc. | 0.46% | 32,836 | $10.2M | Reduce -3.2% |
| NEE Nextera Energy Inc. | 0.45% | 145,417 | $10.1M | Reduce -1.4% |
| FISV Fiserv Inc. | 0.41% | 53,713 | $9.3M | Reduce -7.1% |
| AZN Astrazeneca PLC-Spons ADR | 0.41% | 132,435 | $9.3M | Add +0.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.40% | 29,212 | $8.9M | Reduce -2.0% |
| CHD Church & Dwight Co. Inc. | 0.39% | 90,384 | $8.7M | Add +0.1% |
| MCD McDonald's Corp. | 0.38% | 28,778 | $8.4M | Add +0.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.37% | 35,299 | $8.4M | Add +0.5% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.37% | 164,260 | $8.4M | Add +23.8% |
| FLOT iShares Floating Rate Bond E | 0.37% | 162,235 | $8.3M | Add +5.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.36% | 29,057 | $8.1M | Add +1.1% |
| AGG iShares Core U.S. Aggregate | 0.36% | 80,502 | $8.0M | Add +0.9% |
| MDY State Street SPDR S&P Midcap | 0.35% | 13,733 | $7.8M | Reduce -1.0% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.33% | 7,149 | $7.4M | Reduce -0.1% |
| DHR Danaher Corp. | 0.33% | 37,088 | $7.3M | Reduce -2.5% |
| JMUB JPMorgan Municipal ETF | 0.32% | 142,500 | $7.1M | Add +87.3% |
| SUB iShares Short-Term National | 0.31% | 65,049 | $6.9M | Add +16.5% |
| APD Air Products & Chemicals Inc. | 0.30% | 24,210 | $6.8M | Reduce -0.6% |
| PG The Procter & Gamble Co. | 0.30% | 42,051 | $6.7M | Reduce -3.4% |
| NOW ServiceNow Inc. | 0.29% | 6,341 | $6.5M | Add +42.0% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.28% | 128,868 | $6.3M | Add +19.3% |
| TMUS T-Mobile US Inc. | 0.28% | 26,429 | $6.3M | Add +0.5% |
| SPGI S&P Global Inc. | 0.28% | 11,756 | $6.2M | Reduce -0.4% |
| BDX Becton Dickinson and Co. | 0.27% | 35,650 | $6.1M | Reduce -48.0% |
| CBOE Cboe Global Markets Inc. | 0.27% | 26,287 | $6.1M | Add +108.4% |
| TSCO Tractor Supply Company | 0.27% | 115,590 | $6.1M | Reduce -1.9% |
| SBUX Starbucks Corp. | 0.26% | 64,690 | $5.9M | Reduce -1.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.25% | 19,113 | $5.6M | Reduce -6.8% |
| ADP Automatic Data Processing | 0.25% | 18,263 | $5.6M | No change |
| AMGN Amgen Inc. | 0.25% | 19,970 | $5.6M | Add +0.8% |
| TFC Truist Financial Corp. | 0.24% | 124,041 | $5.3M | Reduce -0.1% |
| CVX Chevron Corp. | 0.24% | 37,069 | $5.3M | Reduce -0.3% |
| PGR Progressive Corp. | 0.22% | 18,771 | $5.0M | Add +1.7% |
| LIN Linde PLC | 0.22% | 10,396 | $4.9M | Reduce -4.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 39,304 | $4.9M | Reduce -5.9% |
| OKE Oneok Inc. | 0.21% | 56,795 | $4.6M | Add +0.5% |
| MRK Merck & Co. Inc. | 0.21% | 58,398 | $4.6M | Reduce -4.1% |
| AMP Ameriprise Financial Inc. | 0.20% | 8,574 | $4.6M | Reduce -0.4% |
| BLK BlackRock Inc. | 0.20% | 4,277 | $4.5M | Reduce -2.8% |
| BND Vanguard Total Bond Market | 0.20% | 59,440 | $4.4M | Add +5.6% |
| CDNS Cadence Design SYS Inc. | 0.19% | 14,102 | $4.3M | Add +2.4% |
| EMR Emerson Electric Co. | 0.19% | 32,433 | $4.3M | Add +2.2% |
| SHW The Sherwin-Williams Co. | 0.19% | 12,584 | $4.3M | Reduce -2.5% |
| ALC Alcon Inc. filed as ALCON AG | 0.19% | 48,778 | $4.3M | Reduce -1.4% |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -5.8% | 2.59% | −0.63 |
| BDX Becton Dickinson and Co. | Reduce -48.0% | 0.27% | −0.48 |
| UNH Unitedhealth Group Inc. | Reduce -3.2% | 0.46% | −0.40 |
| PEP Pepsico Inc. | Reduce -6.3% | 0.97% | −0.30 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.7% | 0.75% | −0.25 |
| JNJ Johnson & Johnson | Reduce -0.6% | 1.39% | −0.25 |
| MUB iShares National Muni Bond E | Reduce -18.0% | 0.68% | −0.22 |
| IJH iShares Core S&P Midcap ETF | Reduce -9.8% | 1.72% | −0.22 |
| FISV Fiserv Inc. | Reduce -7.1% | 0.41% | −0.20 |
| ACN Accenture PLC Class A | Reduce -0.5% | 1.23% | −0.17 |
| V Visa Inc. Class A | Reduce -1.3% | 2.01% | −0.17 |
| IJR iShares Core S&P Small-Cap E | Reduce -3.9% | 1.74% | −0.14 |
| COST Costco Wholesale Corp. | Reduce -0.9% | 3.00% | −0.13 |
| ZTS Zoetis Inc. | Reduce -3.1% | 0.72% | −0.13 |
| LLY Eli Lilly & Co. | Reduce -1.0% | 0.79% | −0.13 |
| AZO AutoZone Inc. | Reduce -0.2% | 0.99% | −0.11 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.11 |
| FTV Fortive Corp. | Reduce -2.7% | 0.18% | −0.10 |
| MA Mastercard Inc. Class A | Reduce -1.9% | 1.29% | −0.10 |
| ITW Illinois Tool Works | Reduce -1.5% | 0.93% | −0.10 |
| WTW Willis Towers Watson PLC | Reduce -0.4% | 0.46% | −0.09 |
| HD Home Depot Inc. | Reduce -0.6% | 1.02% | −0.09 |
| WM Waste Management Inc. | Reduce -0.5% | 0.87% | −0.09 |
| ABT Abbott Laboratories | Reduce -0.6% | 1.41% | −0.09 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.09 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Sold out | 0.00% | −0.08 |
| SYK Stryker Corp. | Reduce -1.0% | 2.53% | −0.07 |
| NOC Northrop Grumman Corp. | Reduce -65.4% | 0.03% | −0.07 |
| CVX Chevron Corp. | Reduce -0.3% | 0.24% | −0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -12.0% | 0.80% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -3.4% | 0.30% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -4.1% | 0.21% | −0.06 |
| XLF SS Financial Select Sector | Reduce -5.9% | 0.60% | −0.06 |
| NEE Nextera Energy Inc. | Reduce -1.4% | 0.45% | −0.05 |
| DHR Danaher Corp. | Reduce -2.5% | 0.33% | −0.05 |
| CRM Salesforce Inc. | Reduce -1.5% | 0.59% | −0.05 |
| SBUX Starbucks Corp. | Reduce -1.5% | 0.26% | −0.05 |
| ADBE Adobe Inc. | Reduce -2.2% | 0.48% | −0.05 |
| TER Teradyne Inc. | Sold out | 0.00% | −0.05 |
| SRLN SS Blackstone Sr Loan ETF | Sold out | 0.00% | −0.04 |
| APD Air Products & Chemicals Inc. | Reduce -0.6% | 0.30% | −0.04 |
| RRX Regal Rexnord Corp. | Sold out | 0.00% | −0.04 |
| TSCO Tractor Supply Company | Reduce -1.9% | 0.27% | −0.04 |
| ALC Alcon Inc. | Reduce -1.4% | 0.19% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -2.0% | 0.19% | −0.03 |
| TJX TJX Companies Inc. | Reduce -5.9% | 0.22% | −0.03 |
| ICE Intercontinental Exchange Inc. | Reduce -2.8% | 0.62% | −0.03 |
| LIN Linde PLC | Reduce -4.7% | 0.22% | −0.03 |
| COP Conocophillips | Reduce -1.2% | 0.10% | −0.03 |
| SHW The Sherwin-Williams Co. | Reduce -2.5% | 0.19% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| AMZN Amazon.com Inc. | Add +20.6% | 3.01% | +0.67 |
| UBER Uber Technologies Inc. | Add +4529.1% | 0.57% | +0.56 |
| DIS The Walt Disney Co. | Add +1.4% | 1.04% | +0.16 |
| NFLX Netflix Inc. | Add +0.9% | 0.61% | +0.15 |
| RTX RTX Corp. | Add +24.8% | 0.71% | +0.15 |
| CBOE Cboe Global Markets Inc. | Add +108.4% | 0.27% | +0.14 |
| AXP American Express Co. | Add +0.1% | 1.50% | +0.13 |
| JMUB JPMorgan Municipal ETF | Add +87.3% | 0.32% | +0.13 |
| JPIE JPMorgan Income ETF | New | 0.12% | +0.12 |
| NOW ServiceNow Inc. | Add +42.0% | 0.29% | +0.12 |
| WELL Welltower Inc. | New | 0.11% | +0.11 |
| C Citigroup Inc. | Add +10.3% | 0.48% | +0.09 |
| WFC Wells Fargo & Co. | Add +5.8% | 0.79% | +0.07 |
| VEA Vanguard Ftse Developed ETF | Add +5.0% | 0.67% | +0.05 |
| JMST JPM Ultra-Short Muni Income | Add +23.8% | 0.37% | +0.05 |
| VGK Vanguard Ftse Europe ETF | Add +106.8% | 0.08% | +0.04 |
| VEU Vanguard Ftse All-World Ex-U | Add +2.9% | 0.73% | +0.04 |
| CM Can Imperial BK of Commerce | Add +106.0% | 0.06% | +0.03 |
| ETN Eaton Corp. PLC | Add +0.8% | 0.16% | +0.03 |
| GEV GE Vernova Inc. | Add +0.8% | 0.08% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +1.3% | 0.76% | +0.03 |
| EMR Emerson Electric Co. | Add +2.2% | 0.19% | +0.03 |
| CDNS Cadence Design SYS Inc. | Add +2.4% | 0.19% | +0.02 |
| SUB iShares Short-Term National | Add +16.5% | 0.31% | +0.02 |
| GE General Electric | Add +0.3% | 0.15% | +0.02 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +19.3% | 0.28% | +0.02 |
| VRT Vertiv Holdings Co. Class A | Add +5.5% | 0.05% | +0.02 |
| IBDX iShares Ibonds Dec 2032 TC | Add +203.2% | 0.03% | +0.02 |
| FSLR First Solar Inc. | Add +2.5% | 0.10% | +0.02 |
| CTVA Corteva Inc. | Add +6.3% | 0.12% | +0.02 |
| HQY Healthequity Inc. | Add +19.2% | 0.07% | +0.02 |
| FLEX Flex Ltd. | New | 0.01% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +16.5% | 0.09% | +0.01 |
| BWA Borgwarner Inc. | New | 0.01% | +0.01 |
| JBL Jabil Inc. | New | 0.01% | +0.01 |
| INTU Intuit Inc. | Add +0.2% | 0.08% | +0.01 |
| SCHF Schwab Intl Equity ETF | New | 0.01% | +0.01 |
| IBDR iShares Ibonds Dec 2026 Term | Add +22.0% | 0.11% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +2.5% | 0.12% | +0.01 |
| RCL Royal Caribbean Cruises Ltd. | New | 0.01% | +0.01 |
| JPST JPMorgan Ultra-Short Income | Add +15.6% | 0.18% | +0.01 |
| VHT Vanguard Health Care ETF | New | 0.01% | +0.01 |
| KLAC KLA Corp. | Add +6.3% | 0.05% | +0.01 |
| MCHP Microchip Technology Inc. | New | 0.01% | +0.01 |
| IP International Paper Co. | Add +91.7% | 0.03% | +0.01 |
| LEMB iShares JP Morgan Em Local C | New | 0.01% | +0.01 |
| MHK Mohawk Industries Inc. | New | 0.01% | +0.01 |
| PRGS Progress Software Corp. | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | Add +1.4% | 0.13% | +0.01 |
| CTRA Coterra Energy Inc. | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 369 | $2.6B | GOOG, NVDA, AAPL, AMZN, MSFT |
| Q1 2026 | 370 | $2.4B | GOOG, MSFT, NVDA, AAPL, AMZN |
| Q4 2025 | 371 | $2.5B | GOOG, MSFT, NVDA, AVGO, AAPL |
| Q3 2025 | 348 | $2.4B | MSFT, GOOG, NVDA, AVGO, AAPL |
| Q2 2025 | 334 | $2.2B | MSFT, GOOG, AVGO, NVDA, AMZN |
| Q1 2025 | 330 | $2.1B | MSFT, GOOG, AAPL, COST, SYK |
| Q4 2024 | 326 | $2.2B | MSFT, GOOG, AVGO, AAPL, COST |
| Q3 2024 | 323 | $2.1B | MSFT, GOOG, AAPL, COST, AVGO |
| Q2 2024 | 309 | $2.0B | MSFT, GOOG, AAPL, COST, NVDA |
| Q1 2024 | 311 | $2.0B | MSFT, GOOG, AAPL, COST, SYK |